Munich Re Specialty Logo - Link to Homepage
Munich Re Specialty - Global Markets, UK

Explore Munich Re Group

Get to know our Group companies, branches and subsidiaries worldwide.

Marine Equipment Insurance
© Vanhurck / Shutterstock.com

Marine Equipment Insurance

Comprehensive cover for marine equipment risks

    alt txt

    properties.trackTitle

    properties.trackSubtitle

    Coverage and limits
    Why work with us?
    Contact us
    Making a claim
    Sian Griffiths
    Sian Griffiths
    Marine Equipment Underwriting Manager

    We understand the risks your clients face, and we know how to help

    Our team of underwriters work closely with insurance brokers to offer robust marine equipment insurance solutions which are tailored to suit policyholders’ specific requirements. 

    Coverage and limits

    We can provide coverage in worldwide territories for Remotely-Operated Vehicles (ROV) and Autonomous Underwater Vehicles (AUV) equipment, owned or operated by specialist contractors such as subsea equipment used by the research and leisure sectors. Other, similar equipment can be insured in the marine equipment market, as well as equipment on platforms or onshore, for example, integrity-testing equipment.
    GBP 12.5m
    Capacity (any one vessel)
    GBP 15m
    Capacity (any one storage location)

    Target risks

    Service providers to the offshore energy, ocean research, offshore construction and aquaculture sectors.

    Limited risk appetite

    • Vessels but can cover smaller/lower value craft as part of a larger schedule of equipment
    • Equipment deployed free in water but can cover depending on the location and value
    • Vehicles but can cover at the operational site excluding third party liability absolutely
    • Unmanned Surface Vessels (USV’s) but can cover for use within specified parameters

    Outside of risk appetite

    • Equipment owned by private individuals
    • Fixed in water installations i.e. rigs
    • Jack-up barges
    • Telecommunication cables
    • In pipe equipment
    • Downhole tools
    • Streamers
    • Stingers

    Additional information

    We can write risks 100% or on a subscription basis
    Marine
    © Evgeny Sergen / Getty Images
    Download
    Marine Equipment Insurance (Annual) IPID
    PDF, 137 KB
    Download
    Marine Equipment Insurance (Specific Period) IPID
    PDF, 137 KB

    Why work with us?

    Expertise
    We connect you with expert-driven solutions and services for all your specialty insurance needs.
    Financial strength and stability
    Our robust financial backing, 140-year legacy, and extensive global resources give us the reach and scale to help you navigate the shifting insurance landscape.
    Dedicated partnership
    As trusted advisors, we work to understand your needs and tailor solutions to help you grow your business with confidence.

    Get in touch with us

    Insurance brokers looking for more information about our marine equipment insurance solution for their clients can contact their local development underwriter.
    Contact us

    Making a claim

    If you are looking to make a claim, you should contact us as soon as possible. Details on how to make marine equipment insurance claims can be found on our claims homepage.
    Claims

    Frequently asked questions

    What is marine equipment insurance?

    We are a market-leader in the field of marine equipment insurance, covering remotely-operated (ROV) and autonomous underwater (AUV) equipment, owned or operated by specialist contractors such as subsea equipment used by the research and leisure sectors.

    ROVs, AUVs (and similar marine equipment) are used to carry out inspection and physical tasks underwater, often at considerable depth, plus the control and other equipment that remain topside. As well as exploration and production, equipment is also used for the commissioning and decommissioning of platforms and other production infrastructure. Other, similar equipment can be insured in the marine equipment market, as well as equipment on platforms or onshore, for example, integrity-testing equipment.

    Who needs marine equipment insurance?

    Equipment is typically owned and used by specialist contractors and service providers. It might be hired in, and of course those who hire it out will want to protect their investment as well. As ROVs and the like become more commonplace, many universities and other research establishments own and/or operate equipment themselves.

    Why is specialist cover needed?

    Many other types of insurance can offer cover of one sort or another for marine equipment, but most will exclude equipment whilst being tested, worked upon and whilst in use in water.

    The information provided in this content is intended for UK insurance brokers acting on behalf of their prospective or existing clients.

    Any description is for general information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any product. Policyholders who have questions or wish to arrange or amend cover should contact their insurance broker. Insurance brokers can find details of how to contact us here.

    Any descriptions of coverage contained are meant to be general in nature and do not include nor are intended to include all of the actual terms, benefits, and limitations found in an insurance policy. The terms of any specific policy will instead govern that policy. Any guidance for UK insurance brokers is intended to provide general information only, and should not be used as a substitute for legal advice.